Biology Forums - Study Force

Which of the following countries has a Lorenz curve that is furthest away from the perfect equality line?
 a. Brazil.
 b. The United States.
 c. Czech Republic
 d. All have equal income distributions.

QUESTION 2

The Budget of the United States Government is officially submitted by:
 a. the President to Congress and contains spending and revenue proposals for the upcoming fiscal year.
  b. Congress to the President and contains spending and revenue proposals for the upcoming fiscal year.
  c. the President to Congress and contains proposals for tax revenues.
 d. Congress to the President and contains proposals for tax revenues.
 e. the President to Congress and is reviewed by the Supreme Court.

QUESTION 3

Which of the following statements is true?
 a. Income distribution in the United States has gotten progressively more unequal since 1929.
  b. The Lorenz curve indicates the degree of discrimination in an economy.
  c. The Lorenz curve indicates the degree of income inequality in an economy.
  d. The richest 5 of Americans earn approximately half of the nation's income.
  e. All of these.

QUESTION 4

If the GDP price index rises from 100 to 110 to 115 over three consecutive years, it can be concluded that the inflation rate is decreasing.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

The federal budget is:
 a. submitted by Congress to the President and contains proposals for tax increases.
 b. submitted by Congress to the President and contains proposals for government expenditures.
  c. always in balance, with receipts equal to expenditures.
 d. equal to government purchases plus cash and in-kind transfer payments.
 e. usually planned for the calendar year, which starts from January.

QUESTION 6

If the real gross domestic product (GDP) is 5 trillion for a particular year and the GDP price index is 140, then the nominal GDP is 7 trillion.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 7

Since 1929, the distribution of income in the United States has become:
 a. substantially more equal.
  b. slightly more equal.
  c. slightly more unequal.
  d. substantially more unequal.

[Answer to ques. #1]  c

[Answer to ques. #2]  a

[Answer to ques. #3]  c

[Answer to ques. #4]  TRUE

[Answer to ques. #5]  c

[Answer to ques. #6]  TRUE

[Answer to ques. #7]  b

I'm seriously surprised that you found the answers... What's your secret?!